Ranked in 5 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
The average time taken for SUTTONS TANKERS LIMITED to pay invoices has increased from 42 days in May 2017 to 60 days in April 2023. This represents an overall increase of 43%, with the biggest increase occurring between November 2019 and April 2023 where the average time taken to pay invoices increased by 57%.
The volatility of the time taken to pay invoices for SUTTONS TANKERS LIMITED has fluctuated over the past three periods. From May 2017 to April 2019, the average time to pay remained relatively stable, with a slight increase in November 2018. However, from May 2019 to April 2023, there were significant fluctuations in the average time to pay, with the biggest increase occurring between November 2019 and April 2023.
From May 2017 to April 2023, SUTTONS TANKERS LIMITED has shown an overall increase in the average time taken to pay invoices, with the biggest increase occurring between November 2019 and April 2023. This period also saw the highest percentage of invoices paid later than 60 days, at 58%. The company has consistently paid the majority of invoices within 30 days, with the highest percentage being 40% in April 2023. The shortest (or only) standard payment period for SUTTONS TANKERS LIMITED has remained at 7 days throughout the entire timeframe.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Nov 2022 - 30 Apr 2023 | 01 Aug 2023 | 60 | 24% | 50% | 26% | 31% |
| 01 May 2022 - 31 Oct 2022 | 07 Feb 2023 | 77 | 10% | 42% | 48% | 85% |
| 01 Nov 2021 - 30 Apr 2022 | 07 Feb 2023 | 62 | 9% | 43% | 48% | 94% |
| 01 Nov 2020 - 30 Apr 2021 | 19 Apr 2022 | 54 | 17% | 43% | 40% | 82% |
| 01 May 2020 - 31 Oct 2020 | 08 Mar 2021 | 55 | 17% | 44% | 39% | 79% |
| 01 Nov 2019 - 30 Apr 2020 | 12 Jun 2020 | 59 | 15% | 27% | 58% | 79% |
| 01 May 2019 - 31 Oct 2019 | 06 Jan 2020 | 43 | 20% | 67% | 13% | 83% |
| 01 Nov 2018 - 30 Apr 2019 | 09 Jul 2019 | 38 | 40% | 48% | 12% | 90% |
| 01 May 2018 - 31 Oct 2018 | 03 Jan 2019 | 43 | 19% | 69% | 12% | 91% |
| 01 Nov 2017 - 30 Apr 2018 | 18 Sept 2018 | 45 | 12% | 74% | 14% | 89% |
| 01 May 2017 - 31 Oct 2017 | 29 Nov 2017 | 42 | 23% | 64% | 13% | 87% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms of 60 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
A complaint or concern will be considered by a Accounts Payable and if remains unresolved will be escalated to the Financial Controller. if no resolution resolved escalated up to the Finance Director.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Suttons Tankers Limited operates as the UK road tanker logistics arm of Suttons Group, moving bulk chemicals, fuels, gases, powders and liquid waste for industrial customers across the country. The wider Suttons Group, of which this entity forms part, also provides international tank container logistics, supply chain management and contract logistics services, operating from numerous UK and overseas locations. The group has recently been acquired by Stolt-Nielsen Limited. Suttons Tankers' own role centres on tailored UK haulage and fleet management for hazardous and non-hazardous bulk products, drawing on the wider group's sector experience and network to deliver flexible transport solutions for customers with varying operational needs.
Generated from the company's website and Companies House records. Sources: suttonsgroup.com